Loan Calculator
Estimate monthly payments and total interest on any loan.
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All 93 toolsWhat is the Loan Calculator?
A loan calculator shows what a loan will really cost you. Enter the amount you want to borrow, the annual interest rate, and the term in years, and it returns your fixed monthly payment, the total interest you will pay over the life of the loan, and the total amount repaid. It turns an abstract rate into the concrete number that hits your account each month.
Seeing the monthly payment and the total interest side by side is what makes a loan calculator so useful before you sign anything. A lower monthly payment from a longer term can quietly cost you far more in total interest — this tool makes that trade-off visible so you can compare offers on equal footing.
All calculations run in your browser; the figures you enter are never uploaded. Model as many scenarios as you like, privately.
How to calculate a loan payment
- 1
Enter the loan amount — the principal you intend to borrow.
- 2
Enter the annual interest rate (APR) as a percentage.
- 3
Enter the term in years over which you will repay the loan.
- 4
Read your monthly payment, total interest, and total amount repaid. Adjust any input to compare different rates or terms instantly.
Why use a loan calculator
Know the monthly payment
See the exact fixed amount you'll owe each month before you commit to a loan.
See the true cost
Total interest is shown alongside the payment, so a tempting low monthly figure can't hide a high lifetime cost.
Compare offers fairly
Change the rate or term to put different lender offers on an equal, apples-to-apples basis.
Private modelling
Your numbers stay in your browser — run unlimited scenarios with nothing uploaded.
How loan payments are calculated
A standard loan uses an amortization formula to spread the principal and interest into equal monthly payments. Each payment is the same, but its makeup shifts over time: early on, most of it goes to interest; later, more goes to principal. The monthly payment is derived from the principal, the monthly interest rate (the annual rate divided by twelve), and the number of months in the term.
Two levers change the picture dramatically. A higher interest rate raises both the monthly payment and the total interest. A longer term lowers the monthly payment but increases total interest, because you are borrowing the money for longer — which is why stretching a loan to make the monthly number comfortable can be expensive overall. The calculator lets you see exactly how much each choice costs.
This tool models the classic fixed-rate, fully-amortizing loan and does not include lender fees, insurance, or taxes, which vary by product. For a home loan with those extras, use the mortgage calculator; for the equated-monthly-installment view common in auto and personal loans, the EMI calculator presents the same math in that format.